By Melissa J. Anderson (New York City)

Last night, the Financial Women’s Association hosted a discussion with Sallie Krawcheck, President of Global Wealth & Investment Management for Bank of America, as part of the organization’s Distinguished Speakers Series.

The candid (and often humorous) discussion touched upon career development, the state of the financial services industry, trust, and what it means to be in transition. The point Krawcheck kept returning to, though, was the importance of keeping a long term view – both in terms of the markets and in professional growth.

Regarding the state of the financial industry’s efforts to advance women in leadership positions, she said, “The industry has been working on it for a while. Progress in some years is good, and in other years it is limited.”

Many companies in the financial services industry operate in a state of crisis, she explained, working to beat quarterly results, rather than looking out for the long term good of the firm. And this behavior transfers to the firms’ hiring processes as well. Because these banks are constantly in crisis mode, managers choose to promote the so-called safe choices – people who look and behave similarly to the ones already in charge. “This goes against giving people who not just look different, but think differently” opportunities for promotion, Krawcheck said.

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By Elizabeth Harrin (London)

It’s been ten years since Cranfield School of Management first produced a report benchmarking the number of female executive directors on the corporate boards of the UK’s top 100 companies. This time the authors of the Female FTSE report has gone a step further – perhaps to celebrate a decade of highlighting the paucity of women at the top – and put together a list of women to watch.

There are 2,281 women (which is 404 more than last year) on the corporate boards, executive committees and senior teams in the FTSE 250. The ‘Women to Watch’ report identifies 100 women in that group, chosen from the largest organisations, whom the authors believe should be seriously considered for the most senior positions.

The Glass Hammer has picked out the financial services high fliers – women you should be watching out for in 2010. Is anyone at your company on the list?

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This time of year is one of reflection, of wrapping last-minute gifts, spending time with family and friends, and making resolutions for the year to come.

As we complete our second year, we at The Glass Hammer are grateful to everyone who has played a part in our growth and success. Our readers and sponsors have helped us reach new heights of journalistic excellence. You have inspired and transformed us.

2009 has presented all of us with challenges and opportunities. We have listened as you have shared your stories with us. We recognize how lucky we are to find ourselves in the company of those who are transforming their industries. We are indebted to those who have given of their time to make our community better by speaking with our writers, sharing  feedback, or contributing articles for publication.

We expect that 2010 will be another year of what you’ve come to expect from us editorially—informative profiles of top women and thought-provoking news stories.

Sharing in the growth of this blog and online community as Managing Editor has made me incredibly proud. Although I will be leaving The Glass Hammer at the end of this year to return to the practice of law, I am confident that The Glass Hammer editorial will continue to be a must-read for top female business executives globally.

I have enjoyed meeting so many of you over the past year and a half, and have learned a great deal from this experience. I could never have imagined that that a chance meeting with Nicki Gilmour, the CEO and founder of The Glass Hammer,would result in such a fun and exciting adventure!

Happy Holidays and a prosperous New Year! And look out for my editorial contributions in 2010.

Pamela Weinsaft
Managing Editor
TheGlassHammer.com

By Liz O’Donnell (Boston)

The Institute of Leadership and Management, a UK-based organization that helps companies improve standards of leadership as well as individual and team performance, recently released a research report titled, “Index of Leadership Trust 2009.”

The report looked at six areas by which leadership is measured: ability, understanding, fairness, openness, integrity and consistency and asked respondents to assign importance to each of them. The Institute then examined the results based on the size of the organizations, the length of time in leadership, and the age and gender of managers and subordinates. The report revealed that, “Ageism and sexism are largely and reassuringly absent from the findings of this research. The most significant trend to emerge is that employees show slightly more trust in managers ‘in their own image’ – that is, of the same sex and similar age to themselves.”

While sexism doesn’t play an obvious role in managers building trust, the findings do underscore one of the key challenges in advancing women to the C-suite. Many believe that businesses “hunker down” in difficult times, like the recession and jobless recovery, and tap the resources that walk, talk and look like them. So even though more women are now reporting to work than men are, with so few women still at the top of businesses, the men already in power will typically turn to other men to make key decisions and fill critical roles.

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By Elizabeth Harrin (London)

Most people associate fund management with the hard-edged side of financial services. But it’s not all about fighting over the top stocks and knowing which off-exchange trading venue is hot. There’s a whole industry around getting the best out of other people’s money – philanthropic services.

“Our role is to offer guidance and support to our donors in every aspect of their charitable giving,” says Elizabeth Brown, Vice President of Philanthropic Services at the Marin Community Foundation, one of the largest community foundations in the U.S.  It manages the assets of the Leonard and Beryl H. Buck Trust and 350 funds established by individuals, families, and businesses, and has invested over $800 million in the work of nonprofit organizations. “Each of our donors works with a personal philanthropic advisor to determine their giving strategy, which varies depending on their values and interest areas,” she adds.

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